Yield Farming: How to Farm Your Tokens on Hakka Finance

https://hakka.finance/

Yield Farming, or simply farming, is a way of earning passive crypto token rewards by lending, borrowing, or providing liquidity to a decentralized platform.

When you lend, borrow, or provide liquidity on a DeFi platform, you often obtain a temporary token to act as a representative of your position, which is returned when you finish your terms or, if borrowing, have settled your debts.

How is it different from staking?

Staking is also a way of earning passively in crypto, but instead of needing to lend, borrow, or provide liquidity, you can simply “stake” or lock your tokens on a platform for a time period.

You will be paid for locking your tokens, which helps secure blockchain transactions. In the Hakka context, staking secures Hakka’s future through your commitment, and you are rewarded with sHAKKA tokens in exchange for your loyalty.

How to farm HAKKA tokens?

First of all, you cannot directly farm the HAKKA tokens that you possess. You either need: sHAKKA or liquidity Pool (LP) Tokens.

A) How to acquire and farm sHAKKA

Note: If you already have sHAKKA tokens, skip to Step 4.

1. You need to own HAKKA tokens by buying them on QuickSwap or by swapping your existing tokens for HAKKA on Multichain.
2. Stake your recently obtained HAKKA on the Hakka Finance website by going to the Staking menu.
3. Once locked for staking, you will receive sHAKKA tokens in your wallet. The sHAKKA is the government token of the Hakka Ecosystem.
4. Use your sHAKKA to farm by going to the Farming menu on the Hakka Finance website. Deposit your tokens in the sHAKKA Farming Pool.
5. Farming your sHAKKA tokens will reward you with more HAKKA tokens.

B) How to acquire and farm LP tokens

1. To obtain LP tokens, you must provide liquidity on one of Hakka Finance’s products, iGain IRS.
2. Go to iGain IRS and select “Pool”.
3. Select the stablecoin for which you want to provide liquidity.
4. You will then be given Liquidity Pool (LP) tokens as proof of your transaction. You must return these LP tokens if you want to reclaim your liquidity.
5. Use your LP tokens to farm by going to the Farming menu on the Hakka Finance website. Choose the LP Farming Pool and deposit your tokens there.
6. Farming your LP tokens will reward you with more HAKKA tokens.

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